Wuxi businesses expand markets through new Silk Road railway

A China-Europe freight train departs Wuxi. [Photo/Wuxi Daily]

August marks the first anniversary of the launch of Wuxi-Lianyungang-Central Asian freight trains, which have been offering a smooth channel for local businesses to export their products.

"The freight trains provide a strong support to our overseas expansion," said Zhou Yucheng, deputy director of customs clearance and logistics at Leyou New Energy and Materials Co. "In the first seven months of this year, Leyou's exports jumped 81 percent year-on-year to $356 million."

Wuxi West Railway Station Logistics Park. [Photo/Wuxi Daily]

In the Jan-Aug period, Wuxi dispatched 2,854 twenty-foot equivalent units with a combined cargo value of about 560 million yuan ($77.10 million), both doubling the amounts of last year, according to Zhu Ping, deputy director of Wuxi West Railway Station Logistics Park where the China-Europe freight trains depart Wuxi.

"Countries involved in the Belt and Road Initiative have become a new growth point for Wuxi's exports," said a staff member from the Wuxi municipal bureau of commerce.

Uzbekistani guests visit Wuxi West Railway Station Logistics Parkon Sept 13. [Photo/Wuxi Daily]

In 2018, the city's exports to BRI countries accounted for 26.1 percent of the city's total exports while in the first seven months of this year, the proportion increased to 33.2 percent, 3.7 percentage points higher than last year.

Statistics from the bureau show that as of June this year, Wuxi businesses had 437 investment projects in BRI countries and regions with a combined Chinese investment of $4.98 billion.

At the China-Europe Railway Express Cooperation Forum which was held in Lianyungang on Sept 15, the ULS international terminal at the Chukursay Station in Uzbekistan inked a strategic cooperation agreement with the Wuxi West Railway Station Logistics Park to attract investment for the infrastructure facilities along the China-Europe (Asia) railway.